Systems for electronic barter, trading and redeeming points accumulated in reward programs allow participants to use their points in various, flexible ways. For example, some prior art systems and methods suggest accumulating reward points so that the accumulated points can be used to purchase an award. A participant earns reward points from a plurality of independent reward points issuing entities (such as a frequent flyer account or a credit card loyalty account). On request by the participant, a trading server accumulates a user designated amount of the user's earned reward points from the reward servers and credits the accumulated points into a single reward exchange account associated with the user. The user may then select an item for purchase with the accumulated reward points.
Thus, in such systems the participant may accumulate points from various programs via a trading server so that the points may be redeemed. In general, such systems tend to be one way systems. Once points are transferred to the trading server from a particular program, the points cannot be returned or used in the particular program. Also, such systems require the participant to pre-select the amount of points to be transferred in advance of a redemption transaction and not as part of a redemption transaction. Also, the value of transferred points depends on the trading server.